We made significant progress in the second half of 2011 towards our goal of developing an innovative product pipeline for the diagnosis and treatment of misfolded protein diseases including neurodegenerative diseases such as ALS and Alzheimer's disease and cancer. Our strategy is to include the creation of strategic alliances and partnerships with companies that have complimentary capabilities, expertise and resources that will allow us to advance many more programs in parallel and maximize the potential of successfully bringing new products to market. Our partnerships with Biogen-Idec and PREVENT are advancing both the ALS antibody therapeutics and vaccine technology forward with little or no cost to Amorfix. Our most recent collaboration with Helix BioPharma combines the proprietary technologies of each company to produce a targeted cancer therapeutic that will be more effective at killing tumors while having fewer adverse side effects than traditional cancer therapies. As such, the Helix collaboration is another exciting addition to our partnerships. We will continue to establish key strategic alliances and partnerships in 2012 to accelerate development of our existing products as well as to add new products to our portfolio.

We have now identified antibodies from each of our three cancer programs that specifically bind to tumor cells and not normal tissue cells. This selectivity is the basis for our development of targeted therapeutics that will translate into new therapies that are much more effective and safer for the patients who take them. We are driving our programs forward towards establishing proof of concept of therapeutic activity in animal models of disease. This represents a major value inflection point for our cancer antibody programs and we are planning to achieve this in the first half of this year. In addition, we are actively seeking partners for our cancer programs as well as partners who may be interested in a ProMIS platform technology deal.

We have developed a unique system for the detection of the aggregated Abeta peptide, a recognized biomarker for AD and we recently announced that we achieved 85 percent specificity and sensitivity for the detection of aggregated Abeta in cerebrospinal fluid (CSF) of subjects with Alzheimer's disease and Mild Cognitive Impairment (MCI). The data suggest that the Amorfix test is superior for identification of patients with MCI when compared to the measurements of monomeric Abeta 1-42 alone. We see the utility of this assay as a means to dramatically improve the current state of AD diagnostics by improving clinicians' ability to properly identify patients with early stage disease and as a way to significantly improve the accuracy and reduce the time and cost of conducting clinical trials for development of new treatments for AD. We are now actively seeking a development partner to bring this important and valuable new asset to the market as quickly as possible.